Putting some simplistic contours (grade and length) onto the Shanac high grade zone long sections shows some possible trends.
Grade (Au Eq).
Two sub parallel zones of +3 to 4 g/t dipping (plunging?) to the right.
The choice of location for the pierce point hole 149 makes some sense when looking at this for a first target. Suspect the company was happy that the result came back much thicker than might have been expected. [Assumes the pierce point location is accurate.]
Contours of intersection length.
Different pattern to grade with the latest hole adding support to a vertical component above a thinner sub horizontal zone that corresponds roughly to the gap between the to +4 g/t grade zones. Would be interesting to see the grade distributions in the longer intersections that reduces the bulk grade below 3 g/t which IMO could create this pattern.
Note the nature of sections involves projections which means some of the intersections may be from separate zones.
As such contouring can become an apples and oranges (and maybe lemons) situation. The vertical hole #86 is probably an example of this.
Hence 3D software to give a better idea. Even then hole density and interpretation play a role.
===================
A couple of comments about my previous post.
I used averages of available intersections which is probably OK for lengths but not so much for grade.
Applying a weight average for grade gives
3.1 g/t Aueq that reduces the average by a little under 10%.
|
| 89.7 | 4 | recent hole 149 |
| 358.8 |
|
| 77 | 2 |
|
| 154 |
|
| 57 | 2.3 |
|
| 131.1 |
|
| 43.5 | 3 |
|
| 130.5 |
|
| 38.8 | 2.7 |
|
| 104.76 |
|
| 30.4 | 2.6 |
|
| 79.04 |
|
| 25.4 | 3.7 |
|
| 93.98 |
|
| 24 | 3 |
|
| 72 |
|
| 23 | 3 |
|
| 69 |
|
| 17.6 | 4.7 |
|
| 82.72 |
|
| 11.5 | 2.4 |
|
| 27.6 |
|
| 10.5 | 4 |
|
| 42 |
|
| 10 | 3.1 |
|
| 31 |
|
| 8.6 | 5.2 |
|
| 44.72 |
|
| 8 | 4.9 |
| weighted | 39.2 |
| sum of lengths | 31.7 | 3.4 | AVERAGES | grade | gm |
| 475 |
| LENGTH | Au eq |
| 3.1 | 1460.42 |
The lengths of intersections are not necessarily true thicknesses. Suspect they would be longer but no idea exactly how much. Chose
an arbitrary 25m based on the ~32m average.
As with all back of the envelope calculations there are multiple assumptions. If they are reasonable then the result gives an order of magnitude in the realms of possibility. Easily wrong given lack of complete data.
DYOR
=================
Chatted with someone yesterday about the issuance of performance shares. Neither of us know much more than the average punter but this person has had experience with WES and other companies.
Maintenance of skilled staff is perhaps the main reason for performance shares. In a fluid, competitive market such incentives are common and encourage qualified staff to stay with the company.
Is this the case for STK or current exploration staffing?
Pricing of the performance shares? IMO for STK most retail holders would be happy to see 20c (and maintained). 30c really stoked. 50c....add your own superlative.
Yes there will be some dilution but there are some ASIC rules which limit this. 50% of salary?
Apparently CBA and another bank (or two) recently exceeded this 50% guideline because of head hunting(?) activity.
Much of the above is hearsay which can be researched by anyone interested. Seemed reasonable to me.
Finally on this issue of "pigs at the trough" (as it was labelled in a post - paraphrased perhaps).
How many times do performance shares or options get "into the money"? Relatively rare, unfortunately for both recipients and holders, from my knowledge.
